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What We Still Don’t Know About Mitt Romney’s Taxes

Tue, 10/02/2012 - 13:13 — Dave Culver
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Critical Thinking

  • The Romney campaign seems unlikely to release any more information about his finances, but that hasn’t kept reporters from digging it up.
  • Mitt Romney’s Tax Mysteries: A Reading Guide

Theodoric Meyer, ProPublica

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Pat Bagley

With the documents Mitt Romney released [1]recently, we know a bit more about his taxes.

We know, for instance, that Romney paid a rate of 14.1 percent on $13.7 million in income on his 2011 tax return [2], which he achieved by purposely overpaying [3]. Though he was entitled to deduct $4 million in charitable contributions, Romney deducted only $2.25 million to keep his tax rate above 13 percent.
(Romney, it has been [4] pointed out [5], could file an amended return to claim the full deduction after the election. We've contacted the Romney campaign, and Michele Davis, a spokeswoman, assured us he would not do so.)

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Related:

Mitt Romney’s Tax Mysteries: A Reading Guide, Cora Currier, ProPublica

  • Ironically, it was Mitt Romney's father, George, who set the precedent for the kind of comprehensive disclosure that's standard for most presidential candidates: During his 1967 bid for the Republican nomination, he released 12 years [9] of tax returns, saying [10] that just one or two seen in isolation could be misleading.
  • Ryan's 'Secret' Tape Is Even More Extreme Than Romney's
     

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